| Safe & Green Development Corp | Real Estate - Development | Real Estate | -1.69 | -18.31 | -8.66 | 26.76 | -0.85 | -59.26 | -94.41 | -96.50 |
| Logistic Properties of the Americas | Real Estate - Development | Real Estate | -4.55 | -13.30 | -38.03 | -42.73 | -44.00 | -53.39 | -76.38 | -76.38 |
| Lead Real Estate Co Ltd ADR | Real Estate - Development | Real Estate | 9.44 | 7.93 | -1.57 | -14.01 | 36.03 | -1.57 | -70.86 | -74.76 |
| Murano Global Investments Plc | Real Estate - Development | Real Estate | 2.16 | 9.04 | -4.39 | -66.49 | -71.26 | -66.83 | -72.97 | -72.97 |
| Alset Inc | Real Estate - Development | Real Estate | -3.53 | -7.17 | -25.90 | 95.24 | 177.03 | 37.43 | 101.62 | -45.58 |
| Murano Global Investments Plc Wt | Real Estate - Development | Real Estate | -2.92 | -7.78 | -34.13 | -60.46 | -52.52 | -49.59 | -40.12 | -40.12 |
| Smith Douglas Homes Corp | Real Estate - Development | Real Estate | 2.48 | 4.82 | -2.92 | -14.17 | -7.12 | -51.93 | -29.33 | -29.33 |
| Belpointe PREP LLC | Real Estate - Development | Real Estate | -1.95 | -2.01 | -0.40 | -5.26 | -0.94 | -5.08 | -10.16 | -28.41 |
| Howard Hughes Holdings Inc | Real Estate - Development | Real Estate | 0.51 | 1.54 | 0.02 | 17.54 | 25.48 | 6.04 | 27.09 | 8.66 |
| Century Communities Inc | Real Estate - Development | Real Estate | 2.04 | 0.68 | -3.75 | 4.57 | 5.51 | -35.59 | 5.49 | 45.47 |
| Amrep Corp | Real Estate - Development | Real Estate | -0.54 | -2.87 | -10.65 | 10.85 | 4.12 | -18.97 | 45.45 | 122.02 |
| Forestar Group Inc | Real Estate - Development | Real Estate | 1.39 | 1.23 | 2.22 | 18.84 | 42.22 | -17.67 | 12.14 | 151.58 |
| Sky Harbour Group Corp | Real Estate - Development | Real Estate | 0.49 | -4.14 | 1.80 | -2.30 | -3.50 | -6.68 | 51.41 | 159.82 |
| Five Point Holdings LLC Cl A | Real Estate - Development | Real Estate | 0.66 | 3.06 | -1.14 | -0.82 | 24.64 | 52.90 | 156.12 | 165.07 |
| JFB Construction Holdings Cl A | Real Estate - Development | Real Estate | 6.10 | -11.87 | 126.55 | 116.38 | 230.29 | 292.57 | 292.57 | 292.57 |